Four Business Trends to Watch in 2019
By Dida Clifton
There used to be two major retail book stores in the U.S. Can you name both?
Borders and Barnes and Noble. Borders was unable to keep up, so they were forced to file for Chapter 11 bankruptcy in 2011. Yet, Barnes and Noble is still in business and thriving. When Barnes and Noble was investing in the future of online and digital, Borders chose to invest in more retail locations that sold CDs, hardcopies of books and DVDs. Keeping up with the external changes is vital for any business.
Where we work, with whom we work and how we do business are all changing. Are you ready?
Here are four trends we saw in 2018 that will continue changing how we do business and how it affects our lives in 2019 and beyond.
1. Virtual offices, co-working spaces and remote workers
When I started my virtual bookkeeping business 17 years ago, there were very few people who knew what a virtual assistant was. With today’s technology, people from all over the world are working together remotely. This trend will continue not only because of the technology available to us, but also because it can be much more efficient. The new generation of millennials and their desire for “work experiences” will call for it.
2. New workforce
By 2020, millennials will make up one-third of the adults in the U.S. This generation is not satisfied with a 9-to-5 cubicle job. They want more freedom to produce their work while enjoying their lives. Take it or leave it, this is the new workforce. While millennials get a bad rap, they’re not all as lazy as advertised. They just want to do things differently.
3. A very diverse, younger and older workforce
It’s not only the younger generation that you will need to understand: employees are projected to stay in the workforce longer. Not because they have to, but because they want to. We’re living longer, and retirement may not be something that happens at 62. This means that five generations of workers will work together in collaborative teams.
4. Artificial Intelligence (AI)
Development of more augmented reality, conversational chatbots and smart voice will have us talking to and depending on computers.
One in five workers engaged in mostly non-routine tasks will rely on AI to do their jobs. In a new report on data and AI trends by Gartner research, AI will become a positive net job motivator, creating 2.3 million jobs while only eliminating 1.8 million jobs by the year 2020.
Are you prepared for how flexible the 2020 workforce will be and ready to embrace virtual? I’ve been ready since 2001 and am so excited to combine real professional staff with technology to help grow small business faster, better, and smarter.